Reliance Global Group Inc Stock Price, News & Analysis

Reliance Global Group (NASDAQ: RELI, RELIW) announces a conference call on November 15, 2022, at 12:00 PM ET to discuss Q3 2022 financial results and provide a business update. Investors can join via phone or webcast. The company, known for combining AI with traditional insurance services, focuses on organic growth through platforms like 5minuteinsure.com and RELI Exchange, along with strategic acquisitions of cash flow positive insurance agencies. A replay of the call will be accessible until November 29, 2022.

Reliance Global Group, Inc. (Nasdaq: RELI, RELIW) has announced its participation in the 2022 MicroCap Rodeo Windy City Roundup Conference in Chicago, Illinois, set for October 12-13, 2022. Chief Financial Officer William Lebovics and Senior VP Grant Barra will present on October 13 at 9:00 AM CT/10:00 AM ET, with a live webcast available for replay. Investors can also meet one-on-one with management during the event. Reliance focuses on integrating AI and cloud technologies with traditional insurance services, targeting organic growth and strategic acquisitions.

Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) has announced a significant milestone, surpassing 100 agency partners on its RELI Exchange platform since its launch in July 2022. The platform combines AI and cloud technology with traditional insurance services, enabling agency partners to streamline operations and enhance efficiency without upfront fees. CEO Ezra Beyman highlighted the positive feedback from partners and the platform's scalability, emphasizing its potential for future growth. The company aims to establish RELI Exchange as the largest agency partner network nationwide.

Reliance Global Group (Nasdaq: RELI; RELIW) announced a $3 million share repurchase program to enhance shareholder value by reducing outstanding shares. This initiative is set to commence three business days post the upcoming quarterly earnings release, anticipated around November 14, 2022. CEO Ezra Beyman demonstrated confidence by purchasing over $400,000 of stock recently. The repurchases will be made through various methods depending on market conditions, with plans to utilize existing funds for this program.

Reliance Global Group (Nasdaq: RELI; RELIW) has announced a referral partnership with NRS Funding, enhancing revenue opportunities for RELI Exchange agents through merchant cash advance services. This collaboration aims to provide agents with new income streams, benefiting their businesses and clientele. CEO Ezra Beyman expressed optimism about the potential growth for RELI Exchange, which continues to attract agency partners with its low entry barriers and robust service offerings. The company remains focused on expanding its network and providing valuable tools for agent efficiency and profitability.

Reliance Global Group (NASDAQ: RELI, RELIW) reported a 92% year-over-year increase in revenue for Q2 2022, reaching approximately $4.2 million, compared to $2.2 million in Q2 2021. This growth is attributed to acquisitions and organic expansion. However, operating expenses surged to $6.2 million, up from $3.3 million a year ago, primarily due to higher commissions and marketing costs. The company reported a net income of approximately $10.5 million, significantly improving from a loss of $1.3 million in Q2 2021, driven mainly by warrant liability adjustments.

Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) announced a conference call on August 15, 2022, at 2:00 PM ET to discuss financial results for Q2 2022 and provide a business update. Investors can access the call via phone or webcast. Reliance focuses on integrating AI and cloud technologies with traditional insurance services, aiming for organic growth through platforms like 5minuteinsure.com and RELI Exchange, while also pursuing acquisitions of undervalued insurance agencies. Detailed information is available on their investor relations page.

Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) will present at the Q3 Investor Summit on August 16, 2022, at 4:15 PM ET. The key speakers include Chairman and CEO Ezra Beyman, Director of Insurtech Moshe Fishman, and Senior VP of Operations Grant Barra. This virtual event will feature over 90 companies and is designed to connect smallcap and microcap firms with qualified investors. Attendees can register for complimentary access and watch the presentation replay on the Company’s website.

Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) announced preliminary revenue guidance for Q2 2022, expecting it to double year-over-year. CEO Ezra Beyman attributed this growth to successful acquisitions, particularly of Barra & Associates and Medigap, both showing strong organic growth. The company highlighted a 30% increase in agency partner channels post-acquisition and reported nearly 800 new Medigap policies in July 2022, a 20% rise since January. Reliance aims to build RELI Exchange into a leading agency network in the U.S. and capitalize on expanding Medicare opportunities.